Viacom profit rises 12%, while sales move down

SteveGelsi

NEW YORK (MarketWatch) -- Viacom
VIAB, -1.07%VIA, +0.13%
said Thursday its fourth-quarter profit from continuing operations rose 12% to $643 million, or $1.24 a share, from $576 million, or $1 a share, in the year-ago period. The media company's adjusted profit rose to $1.21 a share from $1.06 a share. Sales fell 17% to $3.36 billion, partly on a drop in its film unit. Wall Street analysts expected Viacom to earn $1.17 a share on sales of $3.41 billion, according to a survey by FactSet.

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